Standard Chartered Bank has commended Tanzania after the International Company involved in assessing the country’s ability to access capital markets and international bonds, Moody’s Investors Limited, confirmed that it is at B1 rating level with a stable outlook.
The commendations were given in Dar es Salaam by the Bank’s Chief Executive Officer, Mr. Herman Kasekende, when he met and held talks with the Minister of Finance of the United Republic of Tanzania, Ambassador Khamis Mussa Omar (Mb), where they discussed various issues of cooperation between the Government and the Bank, especially the financing of the SGR Modern Railway.
Mr. Kasekende said that Tanzania is doing well in managing its economy including controlling inflation, strengthening the value of its currency, increasing exports and managing its national debt effectively, compared to many countries in Sub-Saharan Africa.
Moody’s has assessed Tanzania on various criteria where despite several upheavals, it has seen the country making improvements made by the Sixth Phase Government led by Dr. Samia Suluhu Hassan in various economic and social sectors.
In 2023, the Company, for the first time, assessed Tanzania and gave it a B2 score and later in 2024, after the Government carried out major economic and social reforms, it gave Tanzania a B1 score, which enables it to access Capital Markets and securities at affordable prices as well as Building Confidence to attract investment capital from abroad.
